Many couples would love to go on vacation together. One thing that always holds vacations back, as most of you know, is finances. It’s difficult for couples to go traveling when money’s already tied up in bills, rent, and day-to-day expenses.
But you’re one of the hopeful couples, one of those wishing for time away, but not able to see a way of doing it because of your financial situation. It’s not the end of the world. If you’re committed to the idea of going on a trip together, there are ways you and your partner can make it happen.
Follows these tips to help you work toward your goal. They are practical steps you can take to save up for that much-needed time away. You’ll be ready to go before you know it.
1. Know How Much It Will Cost
This is a big one. If you only have a vague idea of how much you’ll need to spend to go on vacation, you’ll never know if you’ve met your goal or not. Sit down together and discuss what type of vacation you want to go on.
Do you want to spend a weekend camping in some nearby mountains? Are you hoping to go to an all-inclusive resort? There’s a big difference between the two. Decide what you can afford to work up to, then figure out how much your vacation would cost.
As you figure out what you can pay, that will narrow down your vacation options. Once you’ve come up with the trip you want to take and what it will cost, set that number as your goal.
2. Open a Bank Account Dedicated to Your Vacation
Once you’ve set a certain amount as your savings goal, figure out how much money you can set aside each week. To keep yourself accountable for not spending that money on something else, it can be helpful to open a bank account specifically for the trip you’re saving for.
It’s very easy to set up automatic payments into your new savings account. If you just hold yourself back to not take any money out, you’ll eventually be able to work up to your vacation amount. If the account gives interest, you could even make a little money from it while saving for your upcoming travels.
Having a savings account for your trip will encourage you to keep saving as time goes on and as you see the money inside grow. It’s much more motivating to leave the money there when you have no agreed reason to take the money out other than for your vacation.
3. Cut Back on Your Subscriptions
It’s easy to lose track of how many subscriptions you actually have. With options such as Netflix, Hulu, different magazines, and snack subscription boxes, you can forget how much you’re actually paying every month for the services. You don’t need most of your subscriptions and can easily cut them out.
Try taking the money you’d usually pay for subscriptions and putting it straight into the savings account you made for your vacation. Doing this immediately gives you an extra flow of money, and it gives you even more motivation to not take money out of the savings account to make your sacrifice worth it.
You could always start up your subscriptions again after the vacation if you wanted. Another option would be to leave the subscriptions off and to keep adding to the vacation account. If you do that, you’ll be able to take a second vacation in no time at all.
4. Pay Your Insurance Annually
You likely have several different types of insurance, whether it’s for your house, your car, or even on your life. Paying your insurance costs all in one lump sum will often give you a discount.
To make the large annual payment easier, try splitting up the annual cost into 12 payments. Then, set aside the payments each month until you’ve reached the end of the year when it’s time to pay the amount in full. If you’ve been setting the money aside all year, the large payment won’t be a problem and you’ll have to pay less in the long run because of the discount.
Take the amount of money that you are saving because of the discount, and put it into the savings account you set up for your vacation. This will put you one step closer to your vacation.
5. Shop on Wednesdays
One final idea is to do your grocery shopping on Wednesdays. Wednesdays are often the day that stores will launch their weekly sales. If you go on Wednesday, you’ll be one of the first shoppers taking advantage of the deals so there will be plenty of products to choose from.
Stores many will often honor coupons from the previous week as well. Going grocery shopping on Wednesdays can get you the highest amount of savings possible while the busy weekend shopping rush.
Again, if you take the amount you saved, you can apply that extra money to your savings account toward your upcoming trip.
The saving will be worth it.
Even when finances are tight, there are always ways to cut back and put away a little money every week. Having something like a vacation to work toward is great motivation to keep you going. Following these steps will have you boarding a flight toward your vacation in no time at all.